FMC (NYSE:FMC) Earns Equal Weight Rating from Analysts at Barclays

Barclays started coverage on shares of FMC (NYSE:FMC) in a research note released on Wednesday, MarketBeat.com reports. The brokerage issued an equal weight rating and a $62.00 price target on the basic materials company’s stock.

A number of other equities analysts have also commented on FMC. KeyCorp increased their price target on shares of FMC from $79.00 to $81.00 and gave the stock an overweight rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. decreased their price target on shares of FMC from $53.00 to $50.00 and set a neutral rating on the stock in a report on Monday, May 13th. Wells Fargo & Company increased their price target on shares of FMC from $65.00 to $68.00 and gave the stock an equal weight rating in a report on Wednesday, May 8th. Wolfe Research initiated coverage on shares of FMC in a report on Friday, March 1st. They issued a peer perform rating on the stock. Finally, Loop Capital increased their price target on shares of FMC from $55.00 to $65.00 and gave the stock a hold rating in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $70.06.

FMC Stock Performance

Shares of FMC stock opened at $57.55 on Wednesday. The firm has a market cap of $7.18 billion, a price-to-earnings ratio of 6.42, a P/E/G ratio of 1.17 and a beta of 0.88. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.46. FMC has a 52 week low of $49.49 and a 52 week high of $106.87. The firm’s 50-day simple moving average is $59.90 and its two-hundred day simple moving average is $59.26.

FMC (NYSE:FMC) last posted its quarterly earnings results on Monday, May 6th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. FMC had a net margin of 27.65% and a return on equity of 7.68%. The company had revenue of $918.00 million for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm posted $1.77 earnings per share. The company’s quarterly revenue was down 31.7% compared to the same quarter last year. As a group, equities analysts forecast that FMC will post 3.6 earnings per share for the current year.

FMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Friday, June 28th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date is Friday, June 28th. FMC’s dividend payout ratio (DPR) is presently 25.89%.

Institutional Trading of FMC

Several hedge funds have recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in shares of FMC by 15.3% during the fourth quarter. Wellington Management Group LLP now owns 12,547,766 shares of the basic materials company’s stock valued at $791,137,000 after acquiring an additional 1,666,096 shares in the last quarter. Tweedy Browne Co LLC increased its holdings in FMC by 105.1% in the 4th quarter. Tweedy Browne Co LLC now owns 2,961,857 shares of the basic materials company’s stock worth $186,745,000 after buying an additional 1,518,053 shares during the period. Norges Bank acquired a new position in FMC in the 4th quarter worth approximately $83,227,000. Price T Rowe Associates Inc. MD increased its holdings in FMC by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,061,828 shares of the basic materials company’s stock worth $322,439,000 after buying an additional 1,316,133 shares during the period. Finally, Vanguard Group Inc. increased its holdings in FMC by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 15,290,219 shares of the basic materials company’s stock worth $973,987,000 after buying an additional 768,432 shares during the period. 91.86% of the stock is owned by hedge funds and other institutional investors.

About FMC

FMC Corporation, an agricultural sciences company, provides crop protection, plant health, and professional pest and turf management products. It develops, markets, and sells crop protection chemicals that includes insecticides, herbicides, and fungicides; and biologicals, crop nutrition, and seed treatment products, which are used in agriculture to enhance crop yield and quality by controlling a range of insects, weeds, and diseases, as well as in non-agricultural markets for pest control.